How to understand the different types of "Charges" in palace

Charges in Palace are Internal Transactions - meaning money is moving from one place to another but not actually leaving the Trust Account.

There are 4 types

Charge Admin Fee

Charge Inspection Fee

Charge Tenant Debit

Invoice Creditor (Classifies as a charge as money comes off the property and moves to an Invoice.

You can set up a recurring charge i.e a Statement Fee that is charge each month. See the Diary Help for more information

Charge Admin Fee:

This function will take money from a Property (Owner) and move it to your ledgers, even though it is called Charge Admin Fee, you can put them money into any Ledger i.e Advertising. You will need to set up a ledger if you don't already have one. (Click here)

Using Charge Admin - Sample is using Credit Checks

Click on Transactions

Click on the left hand side drop Arrow - select Charge Admin fee

Select the property

Check date

Select the ledger from the drop down list - Select Credit Checks

Put in amount

NOTE: The amount you put in MUST be GST exclusive as GST will automatically be added

Put in a Ref: In this example we have used the prospective tenant name

Check amount is correct

Add comments if needed

Click OK

The money has now been taken off the Property/Owner and moved to the Ledger.

Charge Inspection Fee:

This function is only used if you need to charge an inspection fee manually, normally you would always to it through the Control Inspections and then Reminders Charge Inspection. It is part of the Inspection wizard.

You can just follow the instructions from the Charge Admin Fee as it is mostly the same.

NOTE: if you use this function, it WILL NOT roll over your inspection that has been set up under Control Inspections

Charge Tenant Debit:

This creates an invoice against the tenant. One of the most common uses is for Water Rates, but can be used for any function where the tenant owes you money. You can create the charge and send an invoice to the tenant, the tenant then pays the invoices and the money is reimbursed to the Owner.

Expense - Select an expense that is relevant to the invoice i.e Water rates if the invoice is from Watercare

Note: Expense codes are important for the breakdown of expenses on the Year To Date Statement for the Owners

Enter in the amount

Enter in the Invoice Number

Check the maintenance fee details etc

Enter a Priority if needed - otherwise leave as medium

Enter a due date if needed i.e Must be paid by a certain date

Note:If due date is needed, it will create a reminder in the diary 2 days before the due date that was set.

If some of the invoice needs to be on charge to the tenant you can fill in the information here and a Tenant Invoice will be created. Tick Charge Tenancy and it will take you to another screen.

If there is already money receipted for this tenant, it will show on the screen and you can assign it to the Invoice that you are creating.

If you have already scanned in the Creditor Invoice, you can click on the Paper Clip and attach the invoice to the diary.

Click OK

Once in the transaction screen you can click Process

NOTE:If you have more than one invoice to process, then tick on Rapid entry (At top of creditor Invoice screen) As you enter each invoice you click OK and the transactions pops behind into the Transaction area and then you enter the next invoice, when you have finished you click on Cancel. Then you will see all the transactions in the list, click on Process.